NEW DELHI: Housing sales in India’s top seven cities fell by 14% year-on-year in 2025, totaling approximately 396,000 units. This decline has been attributed to rising prices, economic uncertainty, and layoffs in the IT sector, as per Anarock Research. Nevertheless, the total sales value of homes increased by 6% to over ₹6 lakh crore, indicating ongoing demand for higher-end properties.
In comparison, around 460,000 units valued at nearly ₹5.68 lakh crore were sold in 2024.
The Mumbai Metropolitan Region (MMR) led sales with approximately 128,000 units in 2025, despite an 18% decline from the previous year. Pune followed closely with 65,135 units sold, an annual drop of 20%. Collectively, these two western markets made up nearly half of the total residential sales in the top seven cities.
Bengaluru experienced a slight decline of 5% in sales, totaling around 62,205 units, while the National Capital Region (NCR) recorded sales of about 57,220 units, an 8% decrease. Hyderabad faced one of the sharpest sales drops at 23%, with around 44,885 units sold. Kolkata had sales totaling about 16,125 units, down 12%, whereas Chennai was the only city to register growth, with a 15% increase in sales to around 22,180 units.
Despite the slowdown in sales volumes, the new housing supply remained steady. New launches in the top seven cities increased by 2% year-on-year to approximately 419,000 units in 2025, compared to 413,000 units in 2024. MMR and Bengaluru accounted for nearly 48% of the total new supply that year.
MMR introduced about 126,000 new units, although launches dipped by 6% year-on-year, with over 72% of the offerings priced below ₹1.5 crore. Bengaluru launched around 74,260 units, marking a 5% increase, predominantly in the ₹75 lakh to ₹2.5 crore price range. Pune added nearly 67,955 units, a 12% annual growth, with more than 86% priced under ₹1.5 crore.
NCR saw approximately 61,775 new launches, up 14% from 2024, with over 55% in the luxury and ultra-luxury segments priced above ₹2.5 crore. Hyderabad added around 43,260 units, reflecting a 26% year-on-year decline, while both Chennai and Kolkata experienced robust growth in launches, at 30% and 31%, respectively.
Among the new supply across the top seven cities in 2025, 37% was priced below ₹75 lakh, while 24% fell within the ₹75 lakh to ₹1.5 crore range. Homes priced above ₹2.5 crore represented about 21% of the total new supply, up from 18% in 2024, highlighting a continued trend towards premium and luxury housing.
Residential prices maintained an upward trajectory, albeit at a slower rate. The average housing price across the top seven cities rose by 8% annually, reaching approximately ₹9,260 per sq ft by the end of 2025, compared to ₹8,590 the previous year. Delhi-NCR recorded the most significant rise at 23%, spurred by a greater share of premium launches, while other cities witnessed single-digit price increases ranging from 4-9%.
By the end of 2025, unsold housing inventory across the top seven cities grew by 4% year-on-year to approximately 577,000 units, indicating relatively high new supply amidst slower demand. Bengaluru experienced the steepest increase in unsold stock at 23%. In contrast, Hyderabad and MMR were the only markets to report a slight decline in inventory levels, benefitting from controlled new supply.
